China's Vivo and Xiaomi Fast Catch up with Samsung in India

In India's smartphone market, Chinese brands such as Vivo and Xiaomi are catching up fast with incumbent leader Samsung Electronics by coming up with high-spec models at lower cost.

According to IDC, a market research firm, on May 18, Xiaomi took a market share of 14.2 percent by selling 3.8 million smartphones in India, ranking No. 2 after Samsung (28.1%). Xiaomi is getting good reviews from Indian customers with its smartphone "Mi 5c" mounted with a processor developed in house.

The company that grows fastest in the Indian market is Vivo. The company was ranked No. 3 in the first quarter by selling 2.8 million phones, accounting for 10.5 percent of the market share. Its growth rate from the same period of last year was 322 percent.

Vivo has opened a total of 15,000 stores across the country and aimed at young customers. Its smartphone model "V5 Plus" has been particularly popular among customers.